In a landmark move, the Federal Government has launched a transformative cash transfer program, committing to provide N25,000 to 15 million households monthly. President Bola Tinubu, in fulfillment of a campaign promise, officially inaugurated the initiative, targeting households across the nation for a monthly financial boost.
The inauguration ceremony took place on the occasion of the International Day for the Eradication of Poverty. Senator George Akume, representing the President, highlighted the government’s strategic commitment to tackling poverty, setting the tone for a comprehensive approach.
Under the theme “Decent Work and Social Protection: Putting Dignity in Practice for All,” President Tinubu outlined a series of proactive measures aimed at ensuring access to dignified employment and sustained social protection for every Nigerian.
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Dr. Betta Edu, the Minister of Humanitarian Affairs, disclosed that over the course of three months, 15 million households nationwide would benefit from the N25,000 cash transfer. She emphasized the rigorous verification process, including checks on National Identification Numbers (NIN) and Bank Verification Numbers (BVN), as well as confirming precise locations, to ensure the funds reach deserving recipients.
Mr. Wale Edun, the Finance Minister and Coordinating Minister of the Economy, echoed the President’s unwavering commitment to poverty reduction, underscoring the urgency of addressing the current unacceptable poverty rate in the country. He reiterated that poverty alleviation stands as a top priority for the President.
Shubham Chaudhuri, the World Bank Representative to Nigeria, highlighted the effectiveness of programs like conditional cash transfers in providing crucial support to vulnerable citizens during economic crises. He emphasized the importance of such assistance in preventing long-term consequences, such as insufficient daily meals or the withdrawal of children from school.
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